Thrivent Financial for Lutherans Has $1.33 Million Holdings in Fortrea Holdings Inc. $FTRE

Thrivent Financial for Lutherans decreased its position in Fortrea Holdings Inc. (NASDAQ:FTRE) by 31.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 157,449 shares of the company’s stock after selling 71,919 shares during the period. Thrivent Financial for Lutherans’ holdings in Fortrea were worth $1,325,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of Fortrea by 48.9% in the first quarter. Royal Bank of Canada now owns 121,707 shares of the company’s stock valued at $920,000 after purchasing an additional 39,944 shares in the last quarter. Caxton Associates LLP acquired a new position in Fortrea during the first quarter valued at $196,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Fortrea by 10.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 282,780 shares of the company’s stock worth $2,135,000 after acquiring an additional 27,746 shares in the last quarter. Focus Partners Wealth acquired a new stake in Fortrea during the 1st quarter worth about $80,000. Finally, Acadian Asset Management LLC purchased a new position in Fortrea during the 1st quarter valued at about $65,000.

Fortrea Stock Performance

Shares of FTRE opened at $9.79 on Friday. The firm has a market cap of $904.60 million, a price-to-earnings ratio of -0.87, a price-to-earnings-growth ratio of 0.30 and a beta of 1.59. The company’s fifty day moving average is $16.20 and its 200-day moving average is $12.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.81. Fortrea Holdings Inc. has a 12 month low of $3.97 and a 12 month high of $18.67.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FTRE shares. Wall Street Zen lowered shares of Fortrea from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fortrea in a research report on Thursday, January 22nd. Truist Financial set a $22.00 price target on shares of Fortrea and gave the company a “buy” rating in a report on Thursday, January 8th. Evercore set a $25.00 price objective on Fortrea and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Finally, TD Cowen lifted their price objective on Fortrea from $7.00 to $15.00 and gave the company a “hold” rating in a research report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $16.75.

About Fortrea

Fortrea, Inc is a global contract development and manufacturing organization (CDMO) that provides integrated solutions for pharmaceutical and biotechnology companies. Established as a spin-off from Thermo Fisher Scientific’s Pharma Services business in October 2023, Fortrea leverages a legacy of scientific expertise and manufacturing scale to support drug development from early-stage research through commercial production. The company’s comprehensive offerings address the complex needs of both small-molecule and biologics programs, making it a single source for clients seeking to accelerate timelines and manage costs.

Fortrea’s core services encompass analytical and formulation development, process optimization, clinical and commercial manufacturing, and packaging services.